I traded the breakout and looks like this may fail as price confirmation of breakout is lacking.
My SL is not hit so I am still holding.
Here is the chart...
EOD chart:
And this is the higher timeframe chart ... all conditions for breakout were met. Of course, the long upper tail you see is AFTER the event.
Monthly chart:
Conclusion: no matter how much study you do, expect half the trades to fail. Of course, you can always find some reason why this trade failed but experience will tell the reason is not always correct!
Just remember... An excellent trade is not a sign of intelligence and vice versa.
How you act is more important... if you cannot cut losses fast or ride winning positions as long as possible, then you will always lose.
SEBI disclosure applicable
My SL is not hit so I am still holding.
Here is the chart...
EOD chart:
And this is the higher timeframe chart ... all conditions for breakout were met. Of course, the long upper tail you see is AFTER the event.
Monthly chart:
Conclusion: no matter how much study you do, expect half the trades to fail. Of course, you can always find some reason why this trade failed but experience will tell the reason is not always correct!
Just remember... An excellent trade is not a sign of intelligence and vice versa.
How you act is more important... if you cannot cut losses fast or ride winning positions as long as possible, then you will always lose.
SEBI disclosure applicable
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